Everest Metals advances 6,000m drilling at Revere Project

• Everest Metals commenced a 6,000-metre drilling programme and a scoping study at the Revere Gold Project.
• The operational update had no immediate market impact, with the company's shares trading flat at $0.12.
• The business stated that the dual initiatives are designed to expand the current mineral resource.

Everest Metals (ASX:EMC) launched a 6,000-metre aircore drilling programme and commissioned a scoping study at the Revere Gold Project.

The campaign follows a May maiden mineral resource estimate of 15 million tonnes for 260,780 gold ounces.

Executive Chairman and CEO Mark Caruso commented, "Revere has no defined mineral resource and a mining lease, so our focus is none on developing this project. We are not awaiting a larger resource before advancing our development work."

The business stated that the drilling aims to test mineralisation extensions and support future resource updates.

The company stated that the scoping study, targeted for early 2027, will assess potential development pathways.

Following the announcement the Everest Metals share price was unchanged at $0.12.

Everest Metals also rationalised its joint venture interests and acquired full ownership of the E51/2119 tenement.

The company noted that the mineralised system remains open at depth to accommodate future resource growth.